We ask clients to confirm intentions for a study six months in advance, given our order book constraints. Before commencing interviews, we work with clients to tailor the research to their needs. We are amendable if a client wants to include some tailored questions. There are no short cuts to producing a successful qualitative perception study. We learn about the business in detail so we understand the context of respondent feedback. We aim to interview the majority of respondents face-to-face because more in-depth feedback is received this way. We have extensive relationships with fund managers and brokers to ensure a high participation rate. An average Greenwich interview lasts between 30 and 40 minutes. Open-ended interviewing techniques are used to foster a conversation with each respondent. Anonymity is crucial in receiving frank feedback. Each report is produced in a simple and concise format that identifies the key issues and trends. Greenwich spends a considerable amount of time summarizing the key themes and producing constructive recommendations.

The only service Greenwich provides is qualitative perception research. We are completely independent and aligned with the Corporate. Our purpose is to clearly identify perceptions on behalf of our client. If the study adds value then clients will be inclined to use our service again in the future. Our competitive advantage is that buy and sell-side analysts trust Greenwich. Respondents know that whatever they say, their statements are unattributed. Greenwich has long-term relationships with the investment and broking community.

While Greenwich principally provides qualitative perception studies, clients sometimes request quantitative metrics be included. A Greenwich Report is customized to each client’s requirements. Our methodology is to conduct the qualitative portion of the interview, and then ask a respondent to fill out any quantitative questions at the end of the interview.

When is the best time to conduct a perception study?
It is different for each client. The majority of our clients regularly conduct perception studies as part of an annual health check. The report is supplied to the Board to bring them closer to market. Some companies conduct a perception study when they face a crisis. Others use the service when the strategy has changed or when there is a change to Board or Management.

Why do fund managers and brokers participate?
Institutional investors and brokers welcome the opportunity to provide frank comment. A perception study is seen as a pro-active way for the Corporate to listen to the market.

How long does a perception study take to complete?
This depends on how many interviews are undertaken and the timing of the study. A typical perception study involves approximately 20 interviews (two-thirds buy-side and one-third sell-side). A perception study involving 20 interviews takes two weeks of interviewing and three weeks of report writing. Offshore studies can take longer, depending on the length of the interview process. Timing can also depend on the availability of interviewees.

What is the ideal sample group?
This depends on the size of the Corporate. Most studies involve a sample size between 20 and 25 interviews. Greenwich has several clients who regularly conduct global studies involving over forty interviews. Likewise there are a few clients who prefer 15 interviews and a much smaller report. The cost of a perception study is directly related to the number of respondent interviews.

What is the average participate rate?

Greenwich has a participation rate over 90 percent. This is one of our competitive advantages.

What is the length of a typical interview?
This varies depending on the fund manager or analyst’s relationship with the Corporate. The interview can last up to one hour for a substantial shareholder or an analyst who has covered the stock for many years. In contrast an interview with a fund manager or analyst who has just initiated coverage may only last twenty minutes. An average Greenwich face-to-face interview lasts between thirty and forty minutes.

How do Corporates use a perception report?
Most of our clients conduct annual perception studies, integrating the report into a Management or Board meeting. A perception study provides a benchmark to measure sentiment. Conducting studies regularly reveals interesting results around how perceptions are changing over time. Clients also use perception studies to tweak their communication with the market.

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